Niagara Association of REALTORS®

The number of homes sold through the MLS® System of the Niagara Association of REALTORS® (NAR) totaled 395 units in February 2026. This was a small reduction of 3.9% from February 2025.

Home sales were 25.6% below the five-year average and 28.6% below the 10-year average for the month of February.

On a year-to-date basis, home sales totaled 727 units over the first two months of the year. This decreased by 3.1% from the same period in 2025.

“Sales activity was still running at subdued levels in February, little changed from where it stood last year,” said Sarah Hart, Executive Officer of the Niagara Association of REALTORS® (NAR). “We’re beginning to see an uneven decline in new supply coming onto the market, perhaps a sign that sellers are no longer as keen to find buyers for their properties. On the plus side, overall inventories are declining from historically elevated levels and the market is firming up, moving closer to balance territory.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $571,800 in February 2026, a moderate decrease of 7.6% compared to February 2025.

The benchmark price for single-family homes was $597,700, falling by 7.2% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $511,700, a sharp decrease of 10.4% compared to a year earlier, while the benchmark apartment price was $362,900, down sharply by 13% from year-ago levels.

The average price of homes sold in February 2026 was $634,594, a decline of 6.2% from February 2025.

The more comprehensive year-to-date average price was $620,662, down by 6.5% from the first two months of 2025.

The dollar value of all home sales in February 2026 was $250.7 million, a decrease of 9.8% from the same month in 2025.

The number of new listings saw a big reduction of 16.4% from February 2025. There were 968 new residential listings in February 2026.

New listings were 10.9% below the five-year average and 0.7% above the 10-year average for the month of February.

Active residential listings numbered 2,491 units on the market at the end of February, decreasing by 7.4% from the end of February 2025.

Active listings were 24.2% above the five-year average and 52.2% above the 10-year average for the month of February.

Months of inventory numbered 6.3 at the end of February 2026, down from the 6.5 months recorded at the end of February 2025 and above the long-run average of 3.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.